We Can't Wait To See This Chart Of Wages Get Updated Tomorrow

Tomorrow is jobs day, and everyone will be interested in seeing
if the unemployment rate drops, and whether we surpass 200K
monthly new jobs.

And all that will be interesting.

But we're also eager to see what's going on with wages.

Our friend Ed Bradford (@fullcarry on Twitter) has
been pointing out that average hourly earnings growth is, for the
first time since the crisis ended, really breaking out (a
phenomenon, not coincidentally, coinciding with the first real
rise in interest rates). If this trend continues, it should
assuage any concerns about deflation, and would vindicate
Bernanke, who has been saying that the recent bout of
disinflation is "transitory". It would also represent great news
for workers.

Anyway, with the jobs report, we'll get an update to this chart,
which is very exciting.